Freehold Leisure, Retail and Residential Investment
• Majority let to ABA Leisure (Five) Limited until 2033 (no breaks)
Tenant trading as Cresta Gems in occupation since at least 2008 and did not exercise their 2016 break option
City Centre location within Derby's main leisure pitch
Nearby occupiers include Revolution, Turtle Bay Restaurant, a number of additional pubs/bars and Caffè Nero, Superdrug and Savers
Lot 79
Auction 19th October 2017
Rent £73,200 per Annum Exclusive
Status Sold
Price £575,000
Sector Leisure
Auction Venue The Radisson Blu Portman Hotel 22 Portman Square London W1H 7BG
Property Information
Location
Miles
15 miles west of Nottingham, 37 miles north-east of Birmingham
Roads
A6, A38, A52, M1 (Junction 25)
Rail
Derby Railway Station
Air
East Midlands Airport, Birmingham International Airport
Situation
The property is prominently situated in the heart of Derby City Centre on the north side of Victoria Street, close to its junctions with St James Street and The Strand, an area popular with pubs/bars, restaurants and nightclubs, as well as Derby's main pedestrianised retailing offer.
Tenure
Freehold.
Location
Miles
15 miles west of Nottingham, 37 miles north-east of Birmingham
Roads
A6, A38, A52, M1 (Junction 25)
Rail
Derby Railway Station
Air
East Midlands Airport, Birmingham International Airport
Situation
The property is prominently situated in the heart of Derby City Centre on the north side of Victoria Street, close to its junctions with St James Street and The Strand, an area popular with pubs/bars, restaurants and nightclubs, as well as Derby's main pedestrianised retailing offer.
Tenure
Freehold.
Description
The property comprises a nightclub arranged over basement, part ground, mezzanine and first floors with an additional kiosk/showroom arranged over part ground and second floors and a six room former flat on the third floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Description
The property comprises a nightclub arranged over basement, part ground, mezzanine and first floors with an additional kiosk/showroom arranged over part ground and second floors and a six room former flat on the third floor.
VAT
VAT is applicable to this lot.
EPC
The EPC will be available to view online in the solicitor’s legal pack.
Tenancy & Accommodation
Floor
Use
Floor Areas (Approx)
Tenant
Term
Rent p.a.x
Review/ (Reversion)
Basement Part ground Mezzanine Part first Part first
43.19 sq m 175.80 sq m 30.64 sq m 18.58 sq m Three room flat
(465 sq ft) (1,892 sq ft) (330 sq ft) (200 sq ft)
ABA LEISURE (FIVE) LIMITED (1) t/a Baby Platinum
25 years from 22/04/2008
£65,000 (2)
22/04/2018 & 5 yearly (21/04/2033)
Part ground Second
Retail/Kiosk Showroom/Ancillary
11.14 sq m 110.55 sq m
(120 sq ft) (1,190 sq ft)
INDIVIDUAL t/a Cresta Gems (3)
5 years from 05/10/2014
£8,200
05/10/2017 (04/10/2019)
Third
Residential
Six room flat
VACANT POSSESSION
Residential
389.90 sq m
(4,197 sq ft)
£73,200
(1) Baby Platinum trade from three nightclubs in the UK, Derby, Manchester and Wigan (Source: www.babyplatinum.co.uk). (2) The seller is holding a £32,500 + VAT rent deposit. (3) Established over 25 years ago, Cresta Gems is an independent, family run, working goldsmiths who trade from three shops in Derby, Heanor and Ripley (Source: www.crestagems.co.uk).
Contacts
Seller's Solicitors
Marriott Harrison LLP 11 Staple Inn London WC1V 7QH
